Solana (SOL) Price Prediction for March 5

03/05/2024 22:30
Solana (SOL) Price Prediction for March 5

Has price of Solana (SOL) reached its resistance yet?

Original U.Today article

Solana (SOL) Price Prediction for March 5

Cover image via www.tradingview.com

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Bulls keep controlling the situation on the market, according to CoinMarketCap.

Top coins by CoinMarketCap

SOL/USD

Unlike other coins, the price of Solana (SOL) has reduced by 0.24% over the last 24 hours.

Image by TradingView

On the hourly chart, one should pay attention to the local resistance level of $133.03. If the daily bar closes near that mark, the midterm growth may continue to $135.

Image by TradingView

Buyers are also more powerful than sellers on the bigger time frame. Here traders should focus on the recently formed level of $134.65. 

If its breakout happens, the upward move may lead to the test of the $140 zone soon.

Image by TradingView

A less positive picture can be seen on the daily chart against BTC. At the moment, the rate is near the support of 0.001853. If buyers cannot seize the initiative shortly, the accumulated energy might be enough for a blast to the 0.0018 area.

SOL is trading at $132.39 at press time.

About the author

article image

Denys Serhiichuk

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at [email protected].

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